NEW YORK (TheStreet) -- Copa Holdings
(CPA) stock plummeted today after the Latin American airline company was downgraded by analysts following its poor guidance for the full year despite strong second quarter earnings.
Analysts responded negatively to Copa's earnings results this morning, and downgraded the company to "market perform" from "strong buy" at Raymond James (RJF), and to "equal weight" from "overweight" at Evercore Partners (EVR).
In its full year outlook, Copa revised its operating margin guidance down to a range of 18% to 20% from its previous 19% to 21%, due to capacity reductions in Venezuela.
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For the second quarter, the Panama-based company earned $2.61 per share, beating analysts estimates by 39 cents per share.
The company reported $673.6 million in revenue for the quarter, topping analysts expectations by $6.24 million.
- You can view the full analysis from the report here: CPA Ratings Report
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